Logo

CEPO

Cantor Equity Partners I, Inc. Class A Ordinary Shares

CEPO

Cantor Equity Partners I, Inc. Class A Ordinary Shares • NASDAQ
$10.40 ▼ -0.10% (-0.01)
Market Cap $213.20 M
52w High $16.50
52w Low $10.04
Dividend Yield 0%
P/E 61.18
Volume 6.00K
Outstanding Shares 20.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $388.159K ▲ $1.191M ▼ 0% $0.047 ▼ $1.191M ▲
Q2-2025 $0 $174.401K ▼ $1.955M ▲ 0% $0.077 ▲ $-174.401K ▼
Q1-2025 $0 $192.548K ▲ $993.4K ▲ 0% $0.039 ▲ $993.4K ▲
Q4-2024 $0 $27.06K ▲ $-27.06K ▼ 0% $-0.001 ▼ $-27.06K ▼
Q3-2024 $0 $14.04 $-14.04 0% $0 $0

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $25K $205.749M ▲ $1.221M ▼ $204.529M ▲
Q2-2025 $25K ▼ $203.667M ▲ $206.646M ▲ $-2.979M ▼
Q1-2025 $275.381K ▲ $201.526M ▲ $204.33M ▲ $-2.804M ▼
Q4-2024 $0 $217.609K ▲ $299.271K ▲ $-81.662K ▼
Q3-2024 $0 $116.665K $171.267K $-54.602K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.191M ▼ $0 ▲ $0 $0 ▲ $0 ▲ $0
Q2-2025 $1.955M ▲ $-1 ▼ $0 ▲ $-250.38K ▼ $-250.381K ▼ $0 ▼
Q1-2025 $993.4K ▲ $52.579K ▲ $-200M ▼ $200.223M ▲ $275.381K ▲ $52.579K ▲
Q4-2024 $-27.06K ▼ $-49.66K ▲ $0 $49.66K ▼ $0 $-49.66K ▲
Q3-2024 $-14.04K $-84.58K $0 $84.58K $0 $-84.58K

Five-Year Company Overview

Income Statement

Income Statement CEPO’s historical income statement is essentially blank, which is normal for a SPAC. It has not run an operating business, generated revenue, or produced meaningful profits or losses from regular commercial activity. All the real economics will begin only after the merger with BSTR closes, at which point the income statement will start reflecting Bitcoin-related activities, fees, and any gains or losses from managing its digital asset base. Until then, past reported results tell you almost nothing about how the future operating performance might look.

Balance Sheet

Balance Sheet So far, CEPO’s balance sheet is that of a shell company: no operating assets, no traditional business liabilities, and no accumulated earnings. In practice, such vehicles mostly hold cash-like assets awaiting a transaction. The picture changes dramatically if and when the merger completes. The combined company is expected to carry a very substantial Bitcoin treasury, turning the balance sheet into a heavily crypto‑backed capital base. That brings both strength (large, liquid assets) and sensitivity (direct exposure to Bitcoin price swings) rather than the more diversified asset mix seen in typical financial firms.

Cash Flow

Cash Flow Historical cash flow is minimal and not informative, as CEPO has not had a real business to generate or consume operating cash. Any movements are mainly administrative and deal‑related. After the merger, cash flows will depend on how successfully BSTR can earn fees, generate yield on its Bitcoin holdings, and manage financing costs. Because much of the strategy involves digital assets and structured products, cash generation could be lumpy and closely tied to market cycles rather than smooth and predictable.

Competitive Edge

Competitive Edge CEPO on its own has no competitive position; it is purely a vehicle. The merged entity, BSTR, aims to carve out a niche as a Bitcoin‑native financial services platform rather than just another holder or miner. Its main strengths are a highly credible technical leader with deep roots in Bitcoin, strong backing and relationships through the Cantor Fitzgerald network, and a very large starting Bitcoin position. These give it brand credibility, access to institutional clients, and a substantial asset base to work from. On the other hand, it will operate in a crowded and fast‑changing crypto financial space, competing not only with specialist Bitcoin firms but also with large traditional institutions entering the market, all under shifting and sometimes restrictive regulation.

Innovation and R&D

Innovation and R&D The strategy centers on building novel financial products directly around Bitcoin, not just offering custody or simple trading. That includes ideas like Bitcoin‑backed credit lines, structured yield strategies, derivatives, and treasury advisory services for corporates and even governments. This is more of a product innovation and financial engineering focus than classic laboratory-style R&D. The vision is ambitious and forward‑leaning, but much of it is still conceptual; the key question is whether the team can turn these ideas into robust, scalable, and compliant offerings that institutions actually use.

Summary

Today, CEPO is best viewed as a transition vehicle with no real operating history, and its past financials are almost irrelevant for understanding the future. The story now is almost entirely about the pending merger and the resulting Bitcoin‑centric financial services platform. If completed as described, the combined company would start life with a substantial digital asset base, prominent leadership, and influential backing, positioning it to pursue a differentiated role in Bitcoin‑based capital markets. At the same time, the outcome is highly dependent on successful execution of an unproven business model, the behavior of Bitcoin markets, regulatory developments, and the company’s ability to attract institutional users. Overall, this is an early‑stage, high‑uncertainty transformation rather than a mature, steady financial business at this point.